@article{MTMT:34554368,
	title = {Asymmetric volatility in asset prices: An explanation with mental framing},
	url = {https://m2.mtmt.hu/api/publication/34554368},
	author = {Ormos, Mihály and Timotity, Dusán},
	doi = {10.1016/j.heliyon.2024.e24978},
	journal-iso = {HELIYON},
	journal = {HELIYON},
	volume = {10},
	unique-id = {34554368},
	abstract = {We propose a theoretical framework for the heteroscedasticity, and in particular for the asymmetric volatility of asset returns. Our model is based on the assumption that some investors are subject to mental framing in a dynamic setting. The analysis of individual trading data confirms that, in line with our model, investors tilt their portfolio towards riskier (less risky) assets subsequent to losses (gains). Based on their behavior, we derive a volatility process that accounts for the asymmetry thoroughly investigated in previous empirical studies: the parameter estimation of our volatility model yields the predicted negative relationship between abnormal returns and ensuing volatility. © 2024 The Authors},
	keywords = {Market microstructure; Asymmetric volatility; Heuristic-driven trader; Mental framing; Volatility dynamics},
	year = {2024},
	eissn = {2405-8440},
	pages = {1-18},
	orcid-numbers = {Ormos, Mihály/0000-0002-3224-7636}
}

@article{MTMT:34222777,
	title = {Evaluation of support vector machine based stock price prediction},
	url = {https://m2.mtmt.hu/api/publication/34222777},
	author = {Izsák, Tilla and Marák, László and Ormos, Mihály},
	doi = {10.35784/acs-2023-25},
	journal-iso = {APPLIED COMPUTER SCIENCE},
	journal = {APPLIED COMPUTER SCIENCE},
	volume = {19},
	unique-id = {34222777},
	issn = {1895-3735},
	abstract = {In recent years with the advent of computational power, Machine Learning has become a popular approach in financial forecasting, particularly for stock price analysis. In this paper, the authors develop a non-recurrent active trading algorithm based on stock price prediction, using Support Vector Machines on high frequency data, and compare its risk adjusted performance to the returns of a statistical portfolio predicted by the Capital Asset Pricing Model. The authors selected the three highest volume securities from a pool of 100 initially selected stock dataset to investigate the algorithmic trading strategy. The abnormal return estimates are significant and positive, and the systematic risk is lower than unity in all cases, suggesting lower risk compared to the market. Moreover, the estimated beta values for all stocks were close to zero, indicating a market independent process. The correlation analysis revealed weak correlations among the processes, supporting the potential for risk reduction and volatility mitigation through portfolio diversification. The authors tested an equally weighted portfolio of the selected three assets and demonstrated a remarkable return of 1348% during the evaluation period from July 1st, 2020, to January 1st, 2023. The results suggest that the weak form of market efficiency can be questioned, as the algorithmic trading strategy, employing a Support Vector Machine binary classification model, has consistently generated statistically significant and substantial abnormal returns using historical market data.},
	year = {2023},
	eissn = {2353-6977},
	pages = {64-82},
	orcid-numbers = {Izsák, Tilla/0009-0002-4275-5279; Marák, László/0000-0002-2280-8014; Ormos, Mihály/0000-0002-3224-7636}
}

@article{MTMT:34006381,
	title = {Makrogazdasági adatok által determinált tenisz sikerek 38 OECD ország elit női játékosának vizsgálatában},
	url = {https://m2.mtmt.hu/api/publication/34006381},
	author = {Kincses, Gábor and Ormos, Mihály and Árva, Gábor},
	doi = {10.22503/inftars.XXIII.2023.3.3},
	journal-iso = {INF TARS},
	journal = {INFORMÁCIÓS TÁRSADALOM: TÁRSADALOMTUDOMÁNYI FOLYÓIRAT},
	volume = {23},
	unique-id = {34006381},
	issn = {1587-8694},
	year = {2023},
	pages = {54-70},
	orcid-numbers = {Kincses, Gábor/0000-0003-4176-6718; Ormos, Mihály/0000-0002-3224-7636; Árva, Gábor/0000-0002-4330-1319}
}

@article{MTMT:33919191,
	title = {Sense of fairness or hunger for revenge? It does make a difference},
	url = {https://m2.mtmt.hu/api/publication/33919191},
	author = {Ormos, Mihály and Timotity, Dusán},
	doi = {10.14254/2071-789X.2023/16-1/13},
	journal-iso = {ECON SOCIOL},
	journal = {ECONOMICS AND SOCIOLOGY},
	volume = {16},
	unique-id = {33919191},
	issn = {2071-789X},
	abstract = {We analyze the driving factors of anomalistic patterns found in experimental studies related to bargaining games. In particular, we investigate whether the well-documented deviation from self-interested behavior can be partly, or entirely, attributed to revenge rather than fairness. Although, in general, related literature does not distinguish between the two latter notions, we highlight their differences and show that revenge significantly, and independently from the sense of fairness, contributes to decision-making in ultimatum games. Moreover, we show that, when controlling for various attributes, the hunger for revenge becomes the sole driving factor for both positively and negatively reciprocal behavior, rendering the sense of fairness insignificant. Our further cross-sectional analysis yields that gender differences are also very significant; however, the measured effects of fairness and revenge remain unaffected by this latter finding.},
	year = {2023},
	eissn = {2306-3459},
	pages = {200-213},
	orcid-numbers = {Ormos, Mihály/0000-0002-3224-7636}
}

@article{MTMT:33919156,
	title = {Oil price and stock returns in Europe},
	url = {https://m2.mtmt.hu/api/publication/33919156},
	author = {Bóta, Gábor and Ormos, Mihály and Antalík, Imrich},
	doi = {10.9770/jesi.2023.10.3(22)},
	journal-iso = {ENTREPR SUST ISS},
	journal = {ENTREPRENEURSHIP AND SUSTAINABILITY ISSUES},
	volume = {10},
	unique-id = {33919156},
	year = {2023},
	eissn = {2345-0282},
	pages = {329-339},
	orcid-numbers = {Bóta, Gábor/0000-0002-3720-757X; Ormos, Mihály/0000-0002-3224-7636; Antalík, Imrich/0000-0001-7060-6567}
}

@book{MTMT:33615453,
	title = {Current Issues in Asset Pricing},
	url = {https://m2.mtmt.hu/api/publication/33615453},
	isbn = {9788081224379},
	editor = {Antalík, Imrich and Ormos, Mihály},
	publisher = {Univerzita Jána Selyeho},
	unique-id = {33615453},
	year = {2022},
	orcid-numbers = {Ormos, Mihály/0000-0002-3224-7636}
}

@article{MTMT:33598479,
	title = {Financial planning in Slovakia: results of empirical research},
	url = {https://m2.mtmt.hu/api/publication/33598479},
	author = {Morvai, Ján and Ormos, Mihály and Antalík, Imrich and Mura, Ladislav and Páldi, Adam and Szabó, Barnabás},
	doi = {10.9770/jesi.2022.10.2(36)},
	journal-iso = {ENTREPR SUST ISS},
	journal = {ENTREPRENEURSHIP AND SUSTAINABILITY ISSUES},
	volume = {10},
	unique-id = {33598479},
	year = {2022},
	eissn = {2345-0282},
	pages = {572-589},
	orcid-numbers = {Morvai, Ján/0000-0003-4575-7253; Ormos, Mihály/0000-0002-3224-7636; Mura, Ladislav/0000-0002-2453-8740; Páldi, Adam/0000-0002-8797-4726; Szabó, Barnabás/0000-0002-9719-7502}
}

@inproceedings{MTMT:32801756,
	title = {Capital Asset Prices in V4 Countries},
	url = {https://m2.mtmt.hu/api/publication/32801756},
	author = {Bóta, Gábor and Nagy, László and Ormos, Mihály},
	booktitle = {Sustainable Finance in the Green Economy},
	doi = {10.1007/978-3-030-81663-6_1},
	unique-id = {32801756},
	year = {2022},
	pages = {1-18},
	orcid-numbers = {Bóta, Gábor/0000-0002-3720-757X; Ormos, Mihály/0000-0002-3224-7636}
}

@inproceedings{MTMT:32619449,
	title = {Financial Literacy in Slovakia and Hungary in Relation to Age},
	url = {https://m2.mtmt.hu/api/publication/32619449},
	author = {Antalík, Imrich and Ján, Morvai and Ormos, Mihály and Ádám, Páldi and Barnabás, Szabó},
	booktitle = {Reproduction of Human Capital – Mutual Links and Connections (RELIK 2021)},
	unique-id = {32619449},
	year = {2021},
	pages = {12-21},
	orcid-numbers = {Ormos, Mihály/0000-0002-3224-7636}
}

@article{MTMT:32528129,
	title = {Magyar női teniszezők elégedettségvizsgálata és a sportág életpályamodellként való megvalósítása az infokommunikáció fejlődésének tükrében},
	url = {https://m2.mtmt.hu/api/publication/32528129},
	author = {Kincses, Gábor and Ormos, Mihály and Bartha, Zsolt},
	doi = {10.22503/inftars.XXI.2021.3.1},
	journal-iso = {INF TARS},
	journal = {INFORMÁCIÓS TÁRSADALOM: TÁRSADALOMTUDOMÁNYI FOLYÓIRAT},
	volume = {21},
	unique-id = {32528129},
	issn = {1587-8694},
	year = {2021},
	pages = {9-25},
	orcid-numbers = {Kincses, Gábor/0000-0003-4176-6718; Ormos, Mihály/0000-0002-3224-7636; Bartha, Zsolt/0000-0002-9539-0923}
}